EVERTEC Reports FY2023 Q2 Earnings Results, Ending June 30, 2023
August 16, 2023
🌥️Earnings Overview
On July 26, 2023, EVERTEC ($NYSE:EVTC) released their earnings results for the second quarter of FY2023, ending on June 30, 2023. Total revenue for this period reached USD 167.1 million, representing a 4.1% increase from the same quarter in the previous year. Nonetheless, net income dropped to USD 28.2 million, a decrease of 16.2% year-on-year.
Market Price
On Wednesday, EVERTEC announced their financial results for the second quarter of fiscal year 2023, ending June 30, 2023. The stock opened at $41.2 and closed at $41.0, representing a 0.9% decrease from the previous closing price of $41.4. This presented a slight dip after a period of stability in the stock’s value over the past few months.
In addition, their total operating expenses decreased by 3% compared to the same period last year. This news was generally welcomed by investors, as it showed that EVERTEC continues to show growth and resilience in the face of market volatility. Despite the slight decrease in stock price, analysts remain generally positive about EVERTEC’s performance and prospects for the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Evertec. More…
| Total Revenues | Net Income | Net Margin |
| 634.48 | 224.73 | 17.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Evertec. More…
| Operations | Investing | Financing |
| 219.7 | -145.5 | -156.59 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Evertec. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.17k | 633.49 | 8.24 |
Key Ratios Snapshot
Some of the financial key ratios for Evertec are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 9.3% | 3.0% | 43.1% |
| FCF Margin | ROE | ROA |
| 22.3% | 32.8% | 14.6% |
Analysis
At GoodWhale, we are committed to helping investors make informed decisions about stocks. We have conducted an analysis of EVERTEC‘s financials, and based on our Risk Rating system, EVERTEC is a medium risk investment. This means that while there are some potential risks associated with investing in the stock, it may still be worth considering for those with a moderate risk profile. GoodWhale has detected one risk warning in EVERTEC’s balance sheet. We invite you to register with us to access more information about this warning and to get an in-depth look at the company’s financials. With GoodWhale, you can be sure that you are making informed decisions about your investments. More…
Peers
The company offers a wide range of products and services that enable businesses to accept and process electronic payments. Evertec Inc’s competitors include Euronet Worldwide Inc, EVO Payments Inc, and DLocal Ltd.
– Euronet Worldwide Inc ($NASDAQ:EEFT)
Euronet Worldwide is a leading global provider of electronic transaction processing solutions for the financial and retail industries. The company has a market cap of 4.5 billion and a return on equity of 18.5%. Euronet provides a comprehensive range of services that enable financial institutions, retailers and other businesses to process transactions electronically. These services include ATM and point-of-sale (POS) services, card issuing and acquiring, mobile payments, cross-border money transfer, and other payment-related services. Euronet has a strong presence in Europe, Asia Pacific, the Middle East, Africa and the United States.
– EVO Payments Inc ($NASDAQ:EVOP)
Evo Payments, Inc. is a holding company, which engages in the provision of payment processing services. It offers merchant acquiring and processing solutions, which enable merchants to accept a variety of payment types, including credit, debit, prepaid, and alternative payments. The company was founded in 1989 and is headquartered in Atlanta, GA.
– DLocal Ltd ($NASDAQ:DLO)
DLocal is a leading cross-border payments platform that enables businesses to make and receive payments in local currencies across Africa, Asia, Latin America, and the Middle East. The company has a market cap of 4.11B as of 2022 and a return on equity of 23.96%. DLocal is headquartered in London, UK.
Summary
EVERTEC has released its financial results for the second quarter of FY2023, reporting total revenue of USD 167.1 million, a 4.1% increase year-on-year. Net income was USD 28.2 million, a decrease of 16.2% from the same period last year. Investors should pay close attention to EVERTEC’s ability to maintain revenue growth and manage costs going forward, in order to maximize profitability. Additionally, understanding the company’s strategic objectives and capital structure can help investors assess the company’s long-term prospects and the value of its stock.
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